Expect Higher Prices For Food In 2013

Consumers will be paying higher prices for food this year because the drought that affected much of the U.S. last year is continuing, according to CNBC news.

“The drought will have a significant impact on prices, especially beef, pork and chicken,” Ernie Gross, an economic professor at Creighton University and who studies farming issues, told CNBC.

“Forecasts are for a four percent (price) increase in food this year, but I think that’s on the low side if the drought continues,” Gross said. “Food prices will likely be going up much more than the forecast.”

2 Responses to Expect Higher Prices For Food In 2013

Steve on January 14, 2013 at 5:58 pm

George, I e-mailed you a couple months back to inquire WHY it was announced on the news back in the summer, that there was a BUMPER peanut crop, yet peanut prices ( which had tripled in the past 3 years ) were NOT coming down??